Anjali C. Das: Lawyer with Wilson Elser Moskowitz Edelman & Dicker LLP

Anjali C. Das

Phone312.821.6164

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Experience & Credentials
 

Practice Areas

  • Data Privacy & Security
  • Directors & Officers Liability
  • Employment & Labor
  • Insurance & Reinsurance Coverage
  • Professional Liability & Services
  • Diversity & Inclusion
 
Contact InfoTelephone: 312.821.6164
Fax: 312.704.1522
http://www.wilsonelser.com/attorneys/anjali_c_das
 
University University of Chicago, B.A., 1990; Northwestern University Kellogg School of Management, M.B.A., 2001
 
Law SchoolNotre Dame Law School, J.D., 1993
 
Admitted1993, Illinois; U.S. District Court, Northern District of Illinois; U.S. District Court, District of Colorado
 
Memberships 

Memberships & Affiliations

American Bar Association: Tort & Insurance Practice Section, Professionals, Directors and Officers Liability Committee
Chicago Bar Association: co-chairperson and legislative liaison, Securities Law Committee, 2005-2006; chair, 1933/1934 Act Subcommittee, 2004-2005
Professional Liability Underwriting Society (PLUS): vice-chair, Midwest Steering Committee; elected to the Board of Trustees

 
Biography

With nearly two decades of experience, Anjali Das represents insurers in connection with professional liability insurance coverage matters and claims involving accounting, finance and other complex business issues. She is a coordinating partner for the firm’s Directors & Officers practice and a member of the Diversity Committee.

Anjali represents the interests of U.S., London and Bermuda-based primary and excess insurers in high-exposure claims against directors and officers of public and private companies, non-profit boards, financial institutions, investment banks, insurance companies, mortgage brokers, bank and custodial trustees, and ERISA plan fiduciaries. She has handled claims related to shareholder class actions seeking multimillion-dollar damages against public companies and their directors and officers, as well as other high-profile fraud cases involving a variety of issues.

Driven by her passion for the interplay of law and business, Anjali earned a Masters in Business Administration at one of the nation’s top business schools in 2001 while maintaining a full-time legal practice at the firm. Clients benefit from her ability to view legal issues from a business perspective as well as her understanding of how shareholder obligations impact the corporate decision-making process. Anjali’s focused insurance and business background is further enhanced by her prior experience as in-house claims counsel for a domestic insurance carrier.

Areas of Focus

Directors & Officers Liability
Anjali has successfully mediated, arbitrated and litigated D&O and other insurance coverage disputes in state and federal courts nationwide. Anjali regularly represents D&O insurers as coverage and monitoring counsel in complex shareholder class actions against public companies and their directors and officers for violations of federal securities laws; shareholder derivative suits against directors and officers for breach of fiduciary duty and mismanagement in the context of mergers and acquisitions and other business transactions; and ERISA stock drop lawsuits. These matters specifically have involved late trading, market timing, stock options backdating, contingent commissions, Foreign Corrupt Practices Act, China reverse merger companies, the Bernard L. Madoff international Ponzi scheme, and the mortgage subprime crisis. She also has counseled clients in connection with lawsuits brought by the government and regulators, including the U.S. Securities and Exchange Commission, Department of Justice, and Federal Deposit Insurance Corporation. Anjali’s representation in such matters has resulted in tens of millions of dollars in savings for insurance companies.

Prior to joining the firm, Anjali served as in-house claims counsel for a domestic insurance carrier, where she was responsible for claims arising under public and private D&O, employment practices and lawyers liability insurance policies. She assisted in drafting policy wording and endorsements, established a network of approved defense panel counsel, analyzed potential liability exposure and coverage defenses to claims, set claims reserves and interacted with the company’s reinsurers during claims audits. Through this experience, Anjali gained valuable insight into the insurance company claims reporting structure; the management of outside counsel; the dynamic interplay among adjusters, underwriters and brokers; the importance of setting accurate claims reserves in a timely fashion; the role of reinsurers; and the value of tracking claims trends and costs, which impact an insurance company’s long-term business objectives and profitability.

Reinsurance
As part of her professional liability insurance coverage practice, Anjali handles reinsurance matters for both foreign and domestic clients. For example, she has had day-to-day oversight of a reinsurance program for one of the country’s largest banks, insured by the London market for D&O liability, bankers’ professional liability and fiduciary liability claims. She represented the bank’s reinsurers as coverage counsel and monitoring counsel for complex, multimillion-dollar claims and class action lawsuits alleging predatory lending, excessive banking and overdraft fees, violations of federal and state securities and antitrust laws, receipt of undisclosed contingent commissions, and aiding and abetting Ponzi schemes.

Anjali also has conducted reinsurance audits of claims files and prepared reinsurance reports analyzing potential exposure for a variety of professional liability claims.

Cyber Liability
Anjali is an active member of the firm’s Data Privacy & Security practice as claims and coverage counsel for domestic and international insurers. In addition to writing articles on cyber topics, she has given webinars and presentations on cyber liability insurance claims and coverage issues to international audiences such as the PLUS International Conference in November 2012. In March 2013, she presented a live cyber liability webinar that drew more than 600 participants globally and addressed the evolution and future of data breach and privacy claims, coverage under traditional policies and new cyber policies, and why corporate boards should pay attention to cyber risks.

Publications

A Guide to Cyber Coverage

Insurance Coverage, Vol. 24, No. 4 ABA Section of Litigation

July-August 2014

SEC Polices Cybersecurity on Wall Street

SEC Polices Cybersecurity on Wall Street

June 4, 2014

The SEC’s new disclosure guidance was intended to bring greater awareness and transparency to actual or potential cybersecurity risk that might be considered material to investors. However, the SEC has acknowledged that this guidance alone might not be sufficient to address investor concerns.

Google and the Great Divide: U.S. Privacy Rights versus EU Privacy Rights

Court of Justice: U.S. versus EU Privacy Rights

June 2, 2014

On May 13, 2014, the Court of Justice of the European Union found that an individual has the right to demand that Google remove links about him that he claimed were old and irrelevant. But which approach is best - the right to be forgotten or the right to know? The “right to be forgotten” as currently described by the Court of Justice could create a clash between freedom of speech, which is supported in the United States, and the EU’s broader concept of privacy.

Data Breach and Privacy Update

Spring 2013

D&Os in Cyberspace: SEC Endorses Social Media for Corporate Communications with Investors

Corporate Communications with Investors @ Facebook?

April 9, 2013

Companies that plan to use social media to communicate material corporate information to investors should make sure they have effective policies, controls and safeguards in place to mitigate potential risk for violations of securities or other laws.

Supreme Court’s New Ruling May Bolster Defense of Data Breach and Privacy Cases

U.S. Supreme Court Upholds Strict Article III Standing in Privacy Case

March 25, 2013

The U.S. Supreme Court’s reaffirmation of heightened standards for future harm may significantly aid corporations in obtaining dismissals for data security and cyber beach lawsuits where plaintiffs frequently cannot show that their personal information will subject them to identity theft or be used in a manner to cause them some other concrete financial harm.

FCPA: Defining D&O M&A Liability for Violations

Foreign Corrupt Practices Act

December 19, 2012

The long-awaited Guidance on potential violations of the Foreign Corrupt Practices Act may provide some relief and useful tips for directors and officers of companies that have been increasingly concerned about potential exposure for successor liability emanating from FCPA violations by the acquired entity.

Foreign Corrupt Practices Act Gives Rise to D&O Claims

Financial Fraud Law Report

October 2012

Foreign Corrupt Practices Act Gives Rise to D&O Claims

June 13, 2012 Walmart is the latest high-profile target of a string of D&O claims involving the increasingly enforced Foreign Corrupt Practices Act. The SEC and DOJ have maintained an aggressive stance on FCPA violations and enforcement actions, which can lead to shareholder derivative civil actions.

Claims Against China-Based Reverse Merger Companies: A Tempest in a Teapot of Gunpowder or Green Tea?

July 2011 Many China-based issuers have been targeted by regulators and investors alike for purported securities and accounting fraud that could ultimately cost D&O insurers millions in losses.

D&O Insurers Be Aware: U.K. Bribery Act Takes Effect on July 1

June 2011 In light of the potential long arm of the Bribery Act, directors and officers (“D&O”) liability carriers should familiarize themselves with the potential increased exposure to their insureds. In addition, D&O insurers would be well advised to consider potential coverage issues under their policies for claims and investigations under the Bribery Act.

New FDIC Lawsuits Attack Former Bank D&Os

May 2011

Many financial industry insiders and their insurers have been wondering where the Federal Deposit Insurance Corporation (FDIC) has been during the recent financial industry meltdown. As the appointed receiver of failed banks that are federally insured, the FDIC is expected to be at the forefront of litigation against the directors and officers (D&Os) of failed financial institutions.

Impact of Dodd-Frank Act on D&O Liability: Corporate Governance, Compensation, Claw-Backs and More

November 2010

Recently enacted sweeping financial legislation embodied in the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Act) creates new concerns for directors and officers of all public companies - not just financial institutions. D&Os will be subject to heightened public and regulatory scrutiny in connection with corporate governance and executive compensation. Broad disclosure requirements regarding executive pay, coupled with potentially enormous financial incentives to corporate whistle-blowers, could lead to increased liability exposure for D&Os and their insurers.

Delaware decisions reduce hurdles to defending D&O claims

September 2009 A typical claim targeting directors and officers (D&Os) in the context of a merger or acquisition is that the D&Os breached their fiduciary duties of care and loyalty by failing to get the best deal for shareholders. However, in a boon to D&Os and their insurers, several recent Delaware court decisions have made it easier for defendants to successfully defend these types of claims.

Additional Publications

“SEC and Other U.S. Exchanges Crack Down on Chinese and Other Reverse Merger Companies,” D&O Diary Blog, November 2011.
Claims Against China-Based Reverse Merger Companies: A Tempest in a Teapot of Gunpowder Green Tea?,” Wilson Elser Client Alert, July 2011.
“D&O Insurers Be Wary: U.K. Bribery Act Takes Effect July 1,” PLUS Journal, July 2011.
“New FDIC Lawsuits Attack Former Bank Directors and Officers,” Wilson Elser Client Alert, May 2011.
“Impact of Dodd-Frank Act on D&O Liability: Corporate Governance, Compensation, Clawbacks and More,” Wilson Elser Client Alert, November 2010.
“D&O Settlements: Straight or Crooked?,” Wilson Elser Client Alert, 2009.
“Recent Delaware Decisions Reduce Hurdles in Defending D&O Claims,” Wilson Elser Client Alert, September 2009.
“Ninth Circuit Holds that Insured v. Insured Exclusion in D&O Policy is not ‘Gobbledygook’,” Wilson Elser Client Alert, 2009.
“The ABCs of D&O Insurance,” Illinois Bar Journal, June 2005.
“Developments in Delaware D&O Indemnification Law,” Andrews Corporate Officers and Directors Litigation Reporter, February 2005.
“D&O Insurers Personally Profit,” PLUS Journal, December 2004.

News

Anjali Das Elected to PLUS Board of Trustees

December 18, 2013

FCPA: Defining D&O M&A Liability for Violations

VCExperts

April 2013

Anjali Das Appointed to Legal Editorial Board

January 3, 2013

Das and Cohen Win Motion to Dismiss $6M Claim against CFO

January 2, 2013

Anjali Das Elected to Chair PLUS Midwest Chapter

October 12, 2012

Anjali Das Elected Vice Chair of PLUS Midwest Committee

November 10, 2011 Anjali Das was unanimously elected to serve as the vice chair of the Professional Liability Underwriting Society (PLUS) Midwest Steering Committee for 2012.

Das Quoted in Business Insurance Article about the Rise of D&O Lawsuits

September 23, 2011 Anjali Das weighed in on the Business Insurance article entitled, “Directors and officers lawsuits increase for midsize firms.”

Anjali Das China D&O Article Garners Media Attention on D&O Diary and in Business Insurance

August 31, 2011 Anjali Das recent article examining regulators increasing attention on financial and accounting fraud allegations involving China-based reverse-merger entities traded on U.S. stock exchanges has appeared in number of media outlets.

Das Bribery Act Article Posted on D&O Diary Blog

June 23, 2011

Anjali Das to Speak on Directors and Officers and Employment Liability

May 3, 2011 Anjali Das (Partner-Chicago) will speak at the PLUS Midwest Chapter seminar on the subject Hot Topics in Directors and officers and Employment Practices Liability. The seminar will be held on June 2, 2011, in Chicago.

Das to speak at ACI Conference on D&O Liability in NYC

November 10, 2010 Anjali C. Das (Partner-Chicago) will speak at the American Conference Institute’s 16th Annual Summit on D&O Liability to be held in New York City November 30 to December 1, 2010.

Das to speak at ABA Class Action Institute

October 7, 2010 Anjali C. Das (Partner-Chicago) will speak at the American Bar Association’s 14th Annual National Institute on Class Actions. The conference will be held in Chicago on Thursday, October 14, 2010, from 8 a.m. to 4:45 p.m.

Das, Rothmann and Wills to participate in PLUS seminar

May 3, 2010 Anjali C. Das (Partner-Chicago), a member of the Professional Liability Underwriting Society (PLUS) Midwest Steering Committee, will co-moderate the upcoming PLUS education seminar “Hot Topics in D&O, EPL, and LPL.” The event is scheduled to take place May 13, 2010 at the University of Chicago Booth School of Business, Gleacher Center, 450 North Cityfront Plaza Drive, Chicago.

Events

Avoiding Data Breaches: Mission Impossible? Corporate and D&O Exposure

Seminars/Webinars

July 1, 2014

Wilson Elser Lunch Seminar/CLE

Why Data Breaches Have Become a D&O Headache

Speaking Engagements

March 18, 2014

Chicago Bar Association Cyber Law Committee

Hot Topics in D&O

Seminars/Webinars

October 30, 2013

Cyber Liability: Insurance Coverage under Traditional and New Cyber Policies - and the Risks to Corporate Boards

Speaking Engagements

March 12, 2013

FC&S Legal, an affiliate of The National Underwriter Company

How DID Network Security and Privacy Issues Become D&O Exposures?

Speaking Engagements

November 9, 2012

PLUS International Conference

Das Moderates PLUS Webinar on Foreign Corrupt Practices Act

Speaking Engagements

July 12, 2012

Das to Moderate Legal Webinar on the Foreign Corrupt Practices Act

Seminars/Webinars

June 4, 2012

Anjali Das to Moderate PLUS Midwest D&O and Employment Liability Hot Topics Seminar

Seminars/Webinars

April 13, 2012

Additional Events

“What’s New in the World of D&O Liability?,” Bermuda, September 2011.
“What’s New in the Defense of Claims Against Directors and Officers?,” Crittenden Middle Markets Accounts Conference, September 2011.
“Hot Topics in Directors and Officers Liability,” PLUS Midwest Spring Education Event, Chicago, IL, June 2011.
“Evaluating the Impact of Financial Institution Litigation on the D&O Market,” American Conference Institute 16th Annual Summit on D&O Liability, New York, NY, December 2010.
“Chi-Town Smackdown! Reverse Auctioning, Common-Fund Haggling, and Other Ethical Dilemmas Challenging Class Action Litigation and Settlements,” American Bar Association 14th Annual National Institute on Class Action, Chicago, IL, October 2010.
“The Role of Insurers in Class Action Litigation,” Practising Law Institute Class Action Litigation Strategies seminar, New York, NY, July 2010.
“Hot Topics in D&O, Employment Practices, and Lawyers Liability,” PLUS Midwest Chapter Spring Education Event, Chicago, IL, May 2010.
“Determining the Reasonableness of Defense Costs,” American Conference Institute 15th Annual Summit on D&O Liability, New York, NY, December 2009.
“Surveying (and Surviving) the Wreckage Below: All About Excess Insurance,” PLUS International Conference, Chicago, IL, November 2009.
“(Bernard L.) Madoff Mayhem,” Bermuda, July 2009.
“It’s a Mad, Mad World: The Far-Reaching Tentacles of Madoff Liability and Other Ponzi Schemes,” PLUS Midwest Chapter Spring Education Event, Chicago, IL, April 2009.
“Blood in the Shark Tank: Chum(p) Avoidance,” PLUS International Conference, San Francisco, CA, November 2009.
“D&O Liability and the Stock Options Backdating Scandal,” Lorman insurance seminar, Countryside, IL, January 2008.
“Loss or No Loss Under D&O Liability,” American Bar Association seminar, Tucson, AZ, March 2007.
“Stumbling Blocks to Settlement in D&O Cases,” PLUS seminar, San Francisco, CA, September 2006.
“D&O Insurance and Securities Class Actions,” Chicago Bar Association Securities Law Institute, Chicago, IL, 2005.

 
ISLN900410220
 

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Google and the Great Divide: U.S. Privacy Rights versus EU Privacy Rights
Anjali C. Das,Alicia A. Garcia,Melissa K. Ventrone, June 11, 2014
Will the “right to be forgotten” be the new mantra in cyber cases in the United States? Or will the “right to know” continue to prevail? In Europe, proponents of the “right to be forgotten” argue that individuals should be able to force search engines such as...

SEC Polices Cybersecurity on Wall Street
Anjali C. Das, June 11, 2014
As U.S. Securities and Exchange Commission (SEC) Chairwoman Mary Jo White recently emphasized at a Cybersecurity Roundtable sponsored by the Commission, the rise of cybersecurity threats poses an increasing risk to companies, individuals and the integrity of the U.S. capital markets. Therefore, the...
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Office Information

Anjali C. Das

120 N. La Salle Street, 26th Floor
ChicagoIL 60602-2412




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